Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $24.30 Average Price Target from Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $24.30.

Several research analysts recently commented on ALHC shares. Barclays reduced their target price on shares of Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, May 26th. Raymond James Financial set a $22.00 target price on shares of Alignment Healthcare in a report on Thursday, May 7th. Weiss Ratings upgraded shares of Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Wall Street Zen upgraded shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, UBS Group increased their target price on shares of Alignment Healthcare from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, May 1st.

Alignment Healthcare Stock Down 2.4%

Shares of ALHC stock opened at $19.75 on Monday. The firm has a fifty day moving average of $18.53 and a 200-day moving average of $19.40. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.56. Alignment Healthcare has a 12-month low of $11.63 and a 12-month high of $23.87. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 219.44, a P/E/G ratio of 2.73 and a beta of 1.14.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. The firm’s revenue was up 33.3% compared to the same quarter last year. As a group, equities research analysts predict that Alignment Healthcare will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

In related news, CEO John E. Kao sold 298,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $16.89, for a total transaction of $5,033,220.00. Following the completion of the transaction, the chief executive officer owned 1,508,641 shares in the company, valued at approximately $25,480,946.49. This represents a 16.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Christine Maroney sold 36,749 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $17.84, for a total transaction of $655,602.16. Following the transaction, the president owned 1,058,813 shares of the company’s stock, valued at $18,889,223.92. The trade was a 3.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,584,685 shares of company stock valued at $30,401,143 in the last 90 days. 5.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Alignment Healthcare

A number of large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in Alignment Healthcare by 156.5% in the first quarter. Bank of America Corp DE now owns 3,215,667 shares of the company’s stock valued at $56,660,000 after acquiring an additional 1,961,778 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in Alignment Healthcare in the first quarter valued at $4,852,000. California State Teachers Retirement System lifted its stake in Alignment Healthcare by 25.4% in the first quarter. California State Teachers Retirement System now owns 198,200 shares of the company’s stock valued at $3,492,000 after acquiring an additional 40,135 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Alignment Healthcare by 442.2% in the first quarter. Quantinno Capital Management LP now owns 89,387 shares of the company’s stock valued at $1,575,000 after acquiring an additional 72,900 shares during the last quarter. Finally, Orbimed Advisors LLC acquired a new stake in Alignment Healthcare in the first quarter valued at $13,937,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

About Alignment Healthcare

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.